Turkmenistan intensifies work to develop single mechanism to supply natural fuel to Europe

Oil&Gas Materials 8 July 2019 18:06 (UTC +04:00)

Ashgabat, Turkmenistan, July 8

By Huseyn Hasanov– Trend:

Turkmenistan has been intensified the efforts to develop a single mechanism to ensure the supply of Turkmen natural fuel to European markets, Trend reports with reference to Turkmenistan State News Agency.

The report is devoted to the results of the recent working visit by High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini to Ashgabat.

"The Trans-Caspian Pipeline is among the promising projects in this area," the report said.

Given the favorable geographical location and resource potential of Turkmenistan, the developed system of gas pipelines will allow turning Central Asia and the Caspian region into the biggest global center for the extraction and transit of energy raw materials, according to the report.

At the meetings with Mogherini, general opinion was expressed that the implementation of new approaches to partnership with Turkmenistan by the EU provides a solid basis for further improving the effectiveness of joint activities, and setting up an EU delegation in Ashgabat will enhance cooperation in the energy and other fields, the Neytralni Turkmenistan newspaper reported.

During the briefing, it was noted that the EU countries attach great importance to the development of cooperation in the energy sector with Turkmenistan, which is among the world’s energy nations, the TV channel “Turkmenistan” reported.

Turkmenistan is studying the possibility of bringing its energy products to the European market. The Trans-Caspian project can be implemented as part of the EU-lobbied Southern Gas Corridor project.

To this end, a 300-kilometer gas pipeline will have to be laid along the Caspian seabed to the shores of Azerbaijan. The legal status of the Caspian seabed was approved in 2018 after twenty years of negotiations between the Caspian countries.

According to official Ashgabat, the EU has expressed its readiness to help attract investment in the implementation of this project.

Turkmenistan has declared its readiness to supply Europe with an annual volume of up to 40 billion cubic meters of gas. Ashgabat recently announced that the EU has expressed willingness to help attract investments in the implementation of this project.